[Ninth Circuit Court Rules Kalshi Sports Event Contracts Are Not Swaps, New Jersey to Petition Supreme Court Review by September 3] Odaily Planet Daily News: On August 28, the United States Ninth Circuit Court of Appeals ruled 3-0 that sports event contracts offered by Kalshi are not swaps, and the Commodity Exchange Act does not preclude Nevada from applying gambling regulations to these contracts. The court also lifted the previous injunction that allowed Kalshi to continue offering contracts, and injunction requests from Crypto.com and Robinhood were also denied. Earlier this year in April, the United States Third Circuit Court of Appeals had ruled that Kalshi's related contracts were likely swaps and protected under federal law, thus exempt from state regulation. With the two federal appellate courts now at odds, New Jersey has until September 3 to petition the U.S. Supreme Court for a review. Kalshi stated it would seek further review and argued that current U.S. Commodity Futures Trading Commission (CFTC) regulations do not prohibit sports event contracts. Robinhood announced plans to appeal, while the CFTC pointed out that derivatives designed under a swap structure are considered swaps, with no legal exceptions other than for onions and movie box office revenues. (Bitcoin.com News)